Thailand, Pakistan to double trade within five years

ISLAMABAD, August 21 (TNA) - Thailand and Pakistan have targeted to double bilateral trade, to about two billion US dollars, over the next five years. The target was announced during an official visit to Pakistan by Thai Prime Minister Yingluck Shinawatra, scheduled for August 20-21. Pakistani Prime Minister Nawaz Sharif said at a joint press conference in Islamabad on Tuesday, after meeting the visiting Thai Prime Minister, that the value of two-way trade between Thailand and Pakistan has exceeded one billion US dollars since 2011 and he hoped the figure would double within five years. The Pakistani and Thai leaders acknowledged that both Islamabad and Bangkok agreed to further develop their economic relations in compliance with their free trade agreement (FTA). Besides, both countries agreed to set up a joint trade committee. According to the Thai Prime Minister, Thailand fully supports Pakistan to become an active dialogue partner with the Association of Southeast Asian Nations (ASEAN) and also supports closer cooperation between ASEAN, in which Thailand is a member country, and the South Asian Association for Regional Cooperation (SAARC), in which Pakistan is a member state. The Thai Prime Minister also praised the government and people of Pakistan for arduously fighting against radicals with the support of the international community. It is the first official visit to Pakistan by a Thai prime minister in 10 years and the Thai Premier is scheduled to meet Pakistani President Asif Ali Zardari later on Wednesday, before flying back to Thailand. (TNA)